USP Electronic Research Repository

Sustainable Financing for Climate and Disaster Resilience in Atoll Islands: Evidence from Tuvalu and Kiribati

Taupo, Tauisi (2019) Sustainable Financing for Climate and Disaster Resilience in Atoll Islands: Evidence from Tuvalu and Kiribati. Pacific Economic Review, 24 (5). pp. 705-717. ISSN 1361-374X

[img] PDF - Draft Version
Restricted to Registered users only

Download (1767Kb)

    Abstract

    This paper examines the financing of disaster risk management. Future climate and disaster risks are predicted to impose increasing financial pressure on the governments of low‐lying atoll nations. The aftermath of a disaster, such as a cyclone, requires financial means for quick response and recovery. We quantify the appropriate levels of financial support for expected disasters in Tuvalu and Kiribati by building on the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI)‐calculated likely costs for disasters. To these, we add estimates of the potential effects of distant cyclones, droughts, sea‐level rise, climate change and large‐scale disaster shocks as they are predicted to affect low‐lying atoll islands. The present paper focuses on the potential contribution of the sovereign wealth funds (SWF) of Tuvalu and Kiribati in reducing reliance on foreign aid for ex‐post disaster risk management. We forecast the future size of SWF using Monte Carlo simulations. We examine the long‐term sustainability of SWF and the feasibility of extending their mandate for disaster recovery.

    Item Type: Journal Article
    Subjects: H Social Sciences > H Social Sciences (General)
    H Social Sciences > HB Economic Theory
    Divisions: Faculty of Business and Economics (FBE) > School of Economics
    Depositing User: Tauisi Taupo
    Date Deposited: 01 Oct 2018 12:07
    Last Modified: 14 Jan 2020 09:41
    URI: http://repository.usp.ac.fj/id/eprint/11021
    UNSPECIFIED

    Actions (login required)

    View Item

    Document Downloads

    More statistics for this item...